Contract Law Key Concepts

Summary

In contract law, consideration must move at the desire of the promisor or a third party. Acceptance can be revoked before reaching the offeror. A specific offer is accepted by the intended recipient. Cundy v. Lindsay (1878) addresses identity mistakes. A person of sound mind can contract when sound. Assignment by law occurs upon a partys death. Contracts create rights in personam. Quantum meruit means as much as earned. Caveat emptor applies when buyers rely on their judgment. Silence on non-prescribed acceptance mode results in no contract. An error in consensus renders an agreement void.

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Acceptance may be revoked by the acceptor Question 11Answer a. at any time b. before the death of the acceptor. c. before the letter of acceptance reaches the offerer d. after the letter of acceptance reaches the offeree
In contract law, acceptance can generally be revoked by the acceptor before the letter of acceptance reaches the offeror. Therefore, the correct answer is:
c. before the letter of acceptance reaches the offerer
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A specific offer can be accepted by Question 12Answer a. any person b. the person to whom it is made c. any friend of offeree. d. any friend of offerer
In contract law, a specific offer can generally be accepted by:
- b. the person to whom it is made
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The Case of Cundy v. Lindsay (*)deals with Question 13Answer a. mistake as regards identity b. Coercion c. undue influence d. mistake as to the nature of transaction
Case Rating: *
The correct answer for the Case of Cundy v. Lindsay (*) is:
a. mistake as regards identity
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A person is usually of sound mind , but occasionally of sound mind Question 14Answer a. he may enter in to a contract when he is of sound mind, b. he cannot enter into a contract at all. c. he may not make a contract even when he is of sound mind d. None of the above.
Case Rating: *
In contract law, a person who is usually of sound mind but occasionally unsound can enter into a contract when they are of sound mind. Therefore, the correct answer is:
a. he may enter into a contract when he is of sound mind.
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Assignment by operation of law takes place ________________ Question 15Answer a. by the mutual consent of parties b. when the subject matter of a contract ceases to exist. c. by the death of a party to a contract. d. by the will of either party
Case Rating: *
In contract law, assignment by operation of law typically occurs:
- c. by the death of a party to a contract.
This means that the rights or obligations under a contract are transferred automatically due to a legal event, such as death. If you have further questions or need clarification, feel free to ask!
A contract creates Question 16Answer a. only obligations and no rights. b. rights in personam, c. only rights and no obligations, d. rights in rem,
Case Rating: *
In contract law, a contract creates rights in personam (option b), meaning the rights are enforceable against specific individuals rather than the world at large. If you have further questions about contract law or need more clarification, feel free to ask!
Quantum meruit means Question 17Answer a. as much as earned b. an implied promise c. a non gratuitous promise d. as much as is paid.
Case Rating: *
Quantum meruit means "as much as earned" (option a). It refers to a legal concept where a party can recover reasonable payment for services rendered when a contract doesn't exist or is unenforceable. If you have more questions about contract law or need further clarification, feel free to ask!
The doctrine of caveat emptor applies Question 18Answer a. when the buyer does not intimate the purpose to the seller and depends upon his own skill and judgment b. incase of implied conditions and warranties c. Coffee d. when goods are sold by sample
Case Rating: *
The doctrine of caveat emptor, meaning "let the buyer beware," applies primarily when the buyer does not inform the seller of the purpose and relies on their own judgment. Therefore, the correct answer is:
- a. when the buyer does not intimate the purpose to the seller and depends upon his own skill and judgment
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An acceptance is not according to the mode prescribed but the offerer decides to keep quiet. In such a case there is Question 19Answer a. a contract, b. no contract, c. an unenforceable contract. d. a voidable contract,
Case Rating: *
In contract law, if the acceptance is not made according to the prescribed mode but the offeror remains silent, there is typically no contract (option b). If you have more questions or need further clarification, feel free to ask!
I there is error in consensus , the agreement is Question 20Answer a. illegal b. avoid c. void d. voidable
Case Rating: *
It seems like you're dealing with multiple-choice questions related to contract law. Regarding Question *, if there is an error in consensus, the agreement is generally considered void (option c). If you have further questions about contract law or need more clarification, feel free to ask!